Table of Content

16 May 2006, Volume 26 Issue 5

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EQUITY VERSUS EFFICIENCY:A NEW PERSPECTIVE

CHEN Yong-jie

2006, (5):  5-12. 

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Equity is the premise of efficiency,while efficiency is the result from equity;equity results in efficiency and efficiency reflects equity.So equity and efficiency are the two sides of the same token.Equity is the basic principle that is necessary for the market economy and the condition that makes the market economy efficient.

MACROECONOMIC CONTROL:ORIENTATION,BASIS,RELATIONSHIP BETWEEN ACTIVE AND PASSIVE BODIES,AND LAW RATIONALE

LIU Rui

2006, (5):  17-23. 

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The basis of Chinese macroeconomic control is socially large-scaled production,the principal role of stated-owned economy,the in power of CCP,and market failure,etc.The government is the active body and the central government is the final one.On the other hand,citizens,principals and other organizations are the passive bodies,and the local government is the passive one.For managing the macroeconomic control,it is necessary to make special rules,which are procedural ones.

OVERSEA M&I BY CHINESE FIRMS:RISKS AND COUNTERMEASURES

WEN Qiao-fu, LI Min-qiang

2006, (5):  24-29. 

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Oversea M&I faces both economic and non-economic risks.The main risks are,among the economic ones,strategic orientation failure during strategy choosing stage,under-valuing the M&I costs during evaluation and complementation stage,imperfect of transaction plans,and cultural conflicts during integration stage.On the other hand,the non-economic factors,like political,social,martial,law,and consensus,are shown during every stage.In order to evade the risks,Chinese firms have to analyze the inside and outside risks and get countermeasures.

PROPERTY RIGHTS OF KNOWLEDGE:COMMODITY NATURE,DEVELOPMENT,AND COUNTERMEASURES

ZHU Nai-xiao

2006, (5):  30-35. 

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Based on the Marxist value theory of labor,from the economic view,this paper works on the commodity nature of property rights of knowledge and the characteristics of value and using value,in order to find the reasonable prices of property rights of knowledge.In addition,by analyzing the new trend of international protecting the property rights of knowledge,in order to respond the monopolies,improve the development of autonomous property rights of knowledge,increase the core competitive abilities,some policies are provided.

INCOMPLETE MARKETS,UNCERTAINTY,AND THE INTEREST TAX IN CHINA

XIAO Zheng-yan, CHEN Yan-bin

2006, (5):  40-46. 

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Using a general equilibrium model with incomplete markets and interest tax,this paper studies the effect of interest tax on equilibrium interest rate.We find that the existence of interest tax results in a lower equilibrium capital stock and higher interest rate in the economy.But the liquidity constraints and uncertainty make the supply curve rightward shift,and result in larger saving.Therefore,when we discuss whether the interest tax should be cancelled,we should take into account the effect of the liquidity constraints and uncertainty.

STANDARDS:ECONOMIC NATURE,FUNCTIONS,AND EFFECTS ON TECHNOLOGICAL INNOVATION

ZHU Tong

2006, (5):  54-59. 

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Has being the basis of industrial societies and market economies,standards are the "infrastructures".The traditional standards,being the quasi-public goods,do not include any knowledge property rights.They can decrease the transaction costs,decrease the degree of asymmetric information of traders,and encourage innovation by being the start line or platform.Since 1980,ICT industry has been seeing the "privatization" of standards,which are both the new motivation and badness for technological innovation.